Wells Fargo Assumes Genworth Financial Inc to Market Perform

Brokerage firm Wells Fargo Assumes its rating on Genworth Financial Inc(NYSE:GNW). The shares have been rated Market Perform. The rating by Wells Fargo was issued on Sep 23, 2016.

In a different note, On Sep 19, 2016, Compass Point said it Downgrades its rating on Genworth Financial Inc. The shares have been rated ‘Neutral’ by the firm.

Genworth Financial Inc (GNW) made into the market gainers list on Tuesdays trading session with the shares advancing 1.66% or 0.08 points. Due to strong positive momentum, the stock ended at $4.9, which is also near the day’s high of $4.9. The stock began the session at $4.8 and the volume stood at 81,09,420 shares. The 52-week high of the shares is $5.745 and the 52 week low is $1.57. The company has a current market capitalization of $2,442 M and it has 49,83,36,240 shares in outstanding.

Genworth Financial Inc(GNW) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.24B. Analysts had an estimated revenue of $2.08B. Earnings per share were $0.25. Analysts had estimated an EPS of $0.21.

Several Insider Transactions has been reported to the SEC. On Sep 2, 2015, Thomas J Mcinerney (CEO) purchased 30,000 shares at $5.21 per share price.Also, On Aug 26, 2015, Michael S Laming (EVP – Human Resources) purchased 25,000 shares at $4.50 per share price.On Aug 26, 2015, James A Parke (director) purchased 50,000 shares at $4.51 per share price, according to the Form-4 filing with the securities and exchange commission.

Genworth Financial Inc. is engaged in providing the insurance retirement and homeownership needs of its customers. The Company operates through three divisions: U.S. Life Insurance Global Mortgage Insurance and Corporate and Other. The Company operates in segments: U.S. Life Insurance in which it offers and manages a variety of insurance and fixed annuity products in the United States; International Mortgage Insurance in which it provides mortgage insurance products and related services in Canada and Australia and also in select European and other countries; U.S. Mortgage Insurance in which it offers mortgage insurance products predominantly insuring prime-based individually underwritten residential mortgage loans; International Protection in which it provides payment protection coverages and Runoff which includes the results of non-strategic products which are no longer actively sold.

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